JAMMU, Mar 19: Life Insurance Corporation (LIC) of India today launched its new product, “Navjeevan Plan” for the welfare of the citizens.
An official spokesman of the Corporation said that, LIC’s Navjeevan plan (UIN 512N331VO1) is a non-linked, participating Endowment Life Assurance Plan which offers a combination of protection and savings.
Policy holder can choose to pay the premium either as lump sum (Single Premium) or for a limited period of 5 years. The plan is available for ages 90 days to 65 years with an option to choose risk sum assured from age 45 years onwards. This plan can be purchased offline as well as online.
He further disclosed that LIC’s Navjeevan Plan is a comprehensive policy which provides financial support for the family in case of unfortunate death of the policy holder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. The plan is Income Tax compliant. This plan also takes care of liquidity needs through its loan facility, the spokesman added.